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One of the main concerns when considering Central Bank Digital Currency (CBDC) is the disintermediating effect on the banking sector in normal times, and even more the risk of a bank run in times of crisis. This paper extends the bank run model of Gertler and Kiyotaki (2015) by analyzing the...
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1. Introduction -- 2. An introduction to cryptography: Unlocking the future of money -- 3. An introduction to technology architectures: Shaping the future of payments -- 4. Understanding privacy -- 5. Understanding money -- 6. A deep dive into payments -- 7. Understanding central banks -- 8....
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